what is the difference between ausgrid and transgrid

This suite of documents comprises TransGrid's application of the Regulatory Investment Test for Transmission (RIT-T) which has been prepared and made available solely for informat Ausgrid operates under this partnership in a long-term lease, with Australian Super and IFM Investors owning 50.4 per cent of the network, while the NSW Treasury owns 49.6 per cent. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin. We are currently working on a new community engagement plan to drive awareness of the additional work AVP will be undertaking to better understand potential connection opportunities between VNI West and WRL. Its fair to say, in our view, that CKIs Australian assets have been the most efficiently run in the NEM, as judged by the AER. The route, design and location of any new infrastructure required to deliver VNI West has not been determined.Once AVP and Transgrid have determined in the PACR where best to connect VNI West into WRL, this will establish a broad area of interest that will subsequently be narrowed down to a corridor, and then a specific route, through further detailed assessment and planning as part of Initial Work activities. The key difference between a switching station and substation is that a power transformer is not installed at the switching station. Any faulty or fallen powerlines spotted on the central-east coast of NSW should also be raised with Ausgrid. excludes TransGrid's part of transmission costs, whereas the 52.8% share attributed to 'regulated networks' in . As part of the RIT-T process, a preferred option must be identified that maximises the net market benefits for consumers while meeting the power system needs. Alternatively, you can call Ausgrid at any time on 13 13 88. In response, AVP and Transgrid are investigating alternative locations in the Waubra/Lexton or Bulgana areas for connection of VNI West, which would still run via a terminal station in the area of Kerang. Ausgrid has a selection of tariff options for energy customers in New South Wales, each of which outline different connection charges and metering for homes and businesses. Australia is undergoing a once-in-a-generation change towards a net-zero emission future. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This means you are charged the same amount for the electricity you use, regardless of when you use it. These guys already own lots of the assets. Electricity is also transmitted into areas with high population density through high voltage underground cables. As these factors are route-specific, any potential solution would be proposed as part of the route investigation and early works stage. All network operators with assets in NSW must be aware of and fully comply with all their legal obligations. See the December 2021 progress updatefor more details. These are products from a referral partner. The issues we are aware of, and an explanation of how these issues have been considered where possible, will be outlined in the further RIT-T consultation report to be published in February 2023. delay: { hide: 300 }, [2] Initial bidding was won by a consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings. Any difference between the reference price . The $16.2 billion figure is the value of all of Ausgrid's debt, plus proceeds received for the 50.4 per cent equity stake. [1] It was formed in 2011 from the previously state-owned energy retailer/distributor, EnergyAustralia, when the retail division of the company, along with the EnergyAustralia brand, was sold by the Government of New South Wales, and the remainder renamed Ausgrid. It shows that: Ausgrids real revenues increased 150% between 2005 and 2012 and increased 66% between 2010 and 2013. upgrade WRL from near Waubra to Bulgana). Route selection will be finalised after the regulatory test for this project is completed, and in close consultation with stakeholders and communities. While this additional analysis is exploring options for VNI West, there is potential for any decision to directly impact landholders and their neighbours along the existing WRL proposed route. These are products from a referral partner. AVP and Transgrid have already commenced engagement with a number of Traditional Owner groups and other key regional stakeholders, including councils and community groups through the RIT-T process to build understanding of unique, local issues. AVP and Transgrid are committed to working with stakeholders and communities from an early stage in the RIT-T process to build our understanding of the local context, listen to interests or concerns, and use that information to help to refine transmission line route options. We engage with the public to safely manage works that take place near our assets. The assets are worth more to foreign buyers because: Overseas buyers have a lower cost of capital; Most utility infrastructure is structured as a combination trust/company (stapled security). We are currently consulting with communities that may be potentially impacted by the alternative connection location of VNI West into WRL so we can be confident we understand all the local factors before making any decision. We recognise the vital role that stakeholders, including Traditional Owners, community and landowners, have in the planning and delivery of major transmission infrastructure projects. Try selling that to politicians or Joe Public. EnergyConnect is a critical project that will lower power bills for homes and businesses. <> endobj Transgrid has entered into an underwriting agreement with the Commonwealth Government to develop the Victoria to New South Wales Interconnector West (VNI West), a major transmission infrastructure project proposed to secure the electricity supply and boost sharing between the two states. A six week period of public feedback followed the PADR publication, which closed on 9 September 2022. There are three major underlying issues in contention and we not expressing the legal language or points but what we perceive as the underlying common sense issues: At first we didnt think the AER stood much of a chance in the appeal. We calculate as follows: By comparison, the four listed comparable investments, AUS, DUE, SKI trade as follows: You can see that the sharemarket tends to value these assets, once they have been optimised, and including some extra non regulated revenue at about 8.5X ebitda and at about 1.4X regulated asset base [RAB]. He is principal at ITK, specialising in analysis of electricity, gas and decarbonisation drawn from 33 years experience in stockbroking research & analysis for UBS, JPMorgan and predecessor firms. Ausgrid owns and operates a shared electricity network that powers the homes and businesses of He was formerly a Utility Analyst for leading investment banks over the past 30 years. [2][3] In September 2016 the New South Wales Government instead accepted a bid from an Australian-based consortium of AustralianSuper and IFM Investors, for a sum of $16 billion.[4]. Transgrid has signed on as major Platinum Partner of Moama Lights - Lighting up the Murray, which is an initiative of the Murray River Council. Reliability and performance licence conditions - SUPERSEDED, Licence granted to the NSW Electricity Networks Operations Pty Limited, Minister's variation Signed by the Minister on 29 November 2017. From 1 December 2017, any new or replacement meters for homes or small businesses will be smart meters, installed by your electricity retailers appointed provider, not Ausgrid. And also note ourlive generation widget,and theAPVI solar contribution. Transmission lines transport electricity at high voltages primarily to minimise energy losses. The key difference between a switching station and substation is that a power transformer is not installed at the switching station. Ausgrid was seen as forcing their network capacity increasing (and therefore profit increasing) projects onto local residential communities. Bulgana option: a new 500kV line connecting WRL at a new TS near Bulgana to PEC; OR a new 500 kV line connecting WRL at a new TS near Bulgana to PEC, via a new TS near Bendigo and a TS station near Kerang. We translate those revenue differences to ebitda, earnings before interest, tax & depreciation, the prime metric in utility profit estimation as follows: To recap, Ausgrid appealed to the Australian Competition Tribunal[ACT] and the ACT essentially found in favour of Ausgrid on the three major grounds of appeal. To determine a route, a detailed route selection study that considers all technical, environmental, social and Cultural Heritage constraints and opportunities will be undertaken. xn6 R*`3 @plne5QmkKm-I Y)?ji6d|VU>_~-fZnfS)_^oBlB+ETPz88kO0Fc67u[7CG~7\AO<2-OVG#\H 6{}V0\l9G!5B5QllA^HSVYPsm|B#okN"7dnj:[rSCxuYUjZ~3B={"9q#@DR;2zs?pu{0_)1@}JQ`{0Fjz`Yd5{,k(Vop/q"4lDQ`DyIpry0K `zZTA2= ESCO Pacific on track to achieve 1GW development goal, A unique mix of opportunities and challenges for solar energy, How this Aussie-made technology is smashing the solar ceiling, ACT claims highest home battery density in Australia, as rebate scheme winds up, Jinko Solar unveils second generation Tiger Neo solar panels, Polestar EV battery packs now powering Candela electric hydrofoil boats, Used Tesla listings reach all-time high in Australia as price cuts take effect, Hertz and Uber ramp up electrification efforts in Europe with 25,000 EVs. [ 11 0 R] Fact Checked Ausgrid says that under its new ownership arrangement, it has maintained a focus on safety and reliability, while also preparing for a feature of de-centralised renewable energy generation. Having read the AERs grounds for appeal, we think it would be very foolish to write off the chances of the appeal succeeding. This means you can have time of use pricing. title: "" <> The financial implications of any potential move of the connection location needs to be carefully balanced with the issues raised by local communities. The PADR submission phase is designed to receive feedback from stakeholders, including community, on the proposed preferred option. AVP and Transgrid sought and encouraged feedback from stakeholders via submissions and consultations on the Project Assessment Draft Report (PADR), which was published in July 2022. We are currently undertaking this work and its likely a decision will be made early in 2023, following further consultation. Like the Transgrid process before it, the State would retain the legal ownership of Ausgrid's network assets. It is possible that conflict may exist between standard documents. There are three electricity distributors in New South Wales one for the central-east coast, one for the regional and country areas and one for the metropolitan areas. EnergyConnect is a critical project that will lower power bills for homes and businesses. Here is some general information about when you should and should not contact Ausgrid: Bill-payers living on the New South Wales central-east coast can contact Ausgrid for a number of services including electricity connections, projects and maintenance in the area, pricing and tariff information, rooftop solar installations and faulty connections or outages. . We have provided links to each network operator's licence (and any subsequent variations) below. As Ausgrid's standards are subject to ongoing review, the information contained in this document may be amended by Ausgrid at any time. Accusations were also made of Ausgrid "gold plating" its business at the expense of consumers to increase the price in privatisation. In February 2023, we will also be publishing a consultation report explaining the proposed preferred option from this additional analysis and inviting further feedback through written submissions prior to concluding the RIT-T. We are and will continue to engage with Traditional Owners and stakeholders to facilitate meaningful input, and clearly explain the rationale and benefits of the project. 12 0 obj And here we have just one more egregious example of how a financially out-of-control country responds to its massive foreign debt; we just keep converting debt into equity. 14 0 obj Ausnet owns and operates Victorias electricity transmission business, is one of 5 electricity distribution operators in Victoria and also owns one of the gas distribution businesses in Victoria. In the National Energy Market, our operations are governed by a number of institutions. Switching stations are used to provide greater control of the electricity at particular points in the network. Our network extends throughout NSW and the ACT, with connections to Queensland and Victoria. This regulatory process ensures energy users avoid paying more than necessary for electricity through the transition to net zero emissions. The ACT instructed the AER to remake its decision and basically guided how this should be done. Ausgrid was wholly owned by the Government of New South Wales from 2011 to 2016. Electricity Commission of New South Wales, "$10.3 billion NSW power sale a good deal for the Baird government", The State Grid Corporation of China: Its Australian engagement and military links, "AGL, Energy Australia, Origin join charter to cut power prices", "TransGrid welcomes Omers to its ownership group", https://www.transgrid.com.au/media/dn5oq3j3/modern-slavery-statement.pdf, "Brett Redman appointed as Transgrid Chief Executive Officer", Transgrid Begins Renewable Energy Zone work in NSW, EnergyAustralia (state government enterprise), Sydney County Council (Sydney Electricity), List of power stations in New South Wales, https://en.wikipedia.org/w/index.php?title=TransGrid&oldid=1093372475, Electric power transmission system operators in Australia, Former government-owned companies of New South Wales, Caisse de dpt et placement du Qubec companies, Sovereign wealth fund portfolio companies, All articles with bare URLs for citations, Articles with bare URLs for citations from March 2022, Articles with PDF format bare URLs for citations, Creative Commons Attribution-ShareAlike License 3.0, New England County Council (New England Electricity), North West County Council (North West Electricity), Northern Riverina County Council (Northern Riverina Electricity), Northern Rivers County Council (Northern Rivers Electricity), Peel-Cunningham County Council (PCCC Electricity), Shortland County Council (Shortland Electricity), Southern Mitchell County Council (Southern Mitchell Electricity), Southern Riverina County Council (Southern Riverina Electricity), Southern Tablelands County Council (Southern Tablelands Electricity), This page was last edited on 16 June 2022, at 05:42. Before entering the distribution network managed by Ausgrid, Endeavour Energy and Essential Energy, the voltage must be reduced from 132 kV, 220 kV, 330 kV or 500 kV to lower voltages. Transgrid's network comprises 104 bulk supply substations and more than 13,133 kilometres of high voltage transmission lines and cables. Electro-mechanical accumulation meters have two different types of displays a dial display or a cyclometer display. Tax efficiency is enhanced by significantly overgearing the assets. Explain to stakeholders the basis on which the preferred option has been selected. VNI West is currently at an early project stage called the Regulatory Investment Test for Transmission (RIT-T). You can find the meter dimensions listed below. This will include extensive community and stakeholder consultation. For this reason, these meters are also known as time of use meters. Great story. As a qualified journalist, Kelseigh aims to light the way for everyday Aussies, helping them find a better deal on their energy plan. The RIT-T is a formal consultation process designed to: The RIT-T consultation process has three stages: Submissions on theProject Specification Consultation Reportclosed on 13 March 2020. Ausgrid owns most meters connected to our network. We invest in building sustainable working relationships with all our procurement partners. For information and updates on the VNI West RIT-T, please visit AEMO's VNI West RIT-T project page. Strengthening the grid to deliver affordable, reliable and clean energy to customers. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Western Renewables Link is a critical network upgrade to provide additional capacity to the Western Victoria REZ. youtube Not all network operators are subject to the same obligations. A new 500kV transmission line will carry electricity to customers from new generation sources. Whether benchmarking is an appropriate method for estimating allowable costs for Ausgrid and whether the AER used benchmarking in an appropriate way to produce an appropriate outcome. Ausgrid services more than 1.7 million homes and businesses on the NSW central-east coast. 3 0 obj Our directors and executive team have a wealth of combined experience across the energy industry. To be read in conjunction with below variation. Before entering the distribution network managed by Ausgrid, Endeavour Energy and Essential Energy, the voltage must be reduced from 132 kV, 220 kV, 330 kV or 500 kV to lower voltages. Our database may not cover all deals in your area. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Non-confidential submissions to the PADR are available to view at the AEMO project webpage. Can I choose a different energy distributor other than Ausgrid? endobj However, if a decision is made to connect VNI West to an alternative WRL terminal station location, the submission of the WRL Environment Effect Statement may be further delayed. VNI West will harness cleaner, cheaper electricity from existing and future renewable energy zones in New South Wales and Victoria, significantly boosting the ability to share energy between states and unlock the full potential of Snowy 2.0s deep energy storage. We recognise the vital role that Traditional Owners and stakeholders, including community and landowners, have in the planning and delivery of major transmission infrastructure projects. The views expressed are his own. In October 2022, the Victorian and Commonwealth Governments jointly announced support, through the Commonwealth Governments Rewiring the Nation plan, for this project to be built by 2028. Network congestion is increasing in some areas of New South Wales and Victoria, and the systems reliance on the balancing benefits of interconnection between regions is also increasing. A recent study commissioned by a collaborative Steering Committee on Transgrids HumeLink project noted that undergrounding of HumeLink would triple the project cost and add a further five years to the construction timeline. AGL, Origin). Transgrids recent commitment to the Project Energy Connect enhanced 500 kV investment between Dinawan and Wagga, which has been supported by the Federal Government, the announced earlier closure date of Yallourn Power Station, EnergyAustralias announced Jeeralang Battery in Victoria, Inform stakeholders of the investment need and proposed optionsto address it, Test the market for alternative and more efficient solutions. The diagram below has been provided for illustrative purposes only to provide an indication of the potential broad areas of interest under investigation. Promoting diversity and inclusion is a key component of our sponsorship program. Ausgrid, Endeavour Energy, Essential Energy and Transgrid (Network Operators) each hold an operating licence. The structures are either steel towers or poles made of steel, concrete or wood. The AER didnt accept the ACTs decision and has appealed it to the Federal Court with the hearings to be held in October. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. We are investigating potential VNI West connection locations along the proposed WRL route west of the currently proposed terminal station, including areas around Bulgana (Wotjobaluk Country) and Waubra/Lexton (Djaara Country). They help us to ensure electricity is reliably transmitted across NSW and the ACT, and allow us to immediately respond to faulty transmission lines, substations and/or switching stations. If you are in these areas and would like to know more, please email info@westernrenewableslink.com.au or call 1300 360 795. <> Here are the EnergyAustralia plans on our database for NSW. Maps appearing in the VNI West PADR, and the 2022 ISP, are illustrative only. Ausgrid, Endeavour Energy, Essential Energy and Transgrid (Network Operators) each hold an operating licence. 13 0 obj Below we have listed some of the cheapest electricity prices in New South Wales on the Ausgrid network. Increase the capacity for sharing electricity between Victoria and New South Wales, improving the reliability and security of electricity supply for both states. VNI West will provide a vital new transmission line to link new renewable generators with the grid and ensure reliable, affordable power as Australia transitions to clean, low-cost renewables. twitter A community engagement event schedule will be published on our website and other channels in the new year. It applies to each network operator from the date it was transacted. If you have not organised your connection within this time, you will need to re-apply for a new contract in order to get connected. VNI will help lower the cost of wholesale electricity across the National Electricity Market. This agreement will enable Transgrid to plan with confidence and maximise the opportunity to deliver the project aligned with the RIT-T process. A dependable partner to millions of Australians, were the backbone that energy suppliers rely on. While visual amenity impacts and bushfire risk are reduced, undergrounding raises its own suite of issues: for example, disturbance to flora and fauna, and archaeological sites, and increased impact on land use (the land above an underground power line may not be able to be used for some farming activity). This is front page news. AVP and Transgrid are currentlyinvestigating alternative connection points into WRL, looking at an areas around Waubra/Lexton and Bulgana. This consultation will provide a number of different opportunities for community members to provide feedback in addition to our regular engagement with councils, governments, consumer representatives and industry. Wednesday 10 August 2022 information session, Thursday 25 August 2022 information session. We focus on making services affordable, prioritising safety, and delivering for our customers. As always, check all details of any plan directly with the retailer before making a purchase decision. The insulators provide the required insulation to stop electricity leaking into the structure and then onto the ground. This includes gathering Traditional Owners, Registered Aboriginal Parties, community and stakeholder feedback and land surveys. The RIT-T assessment decision is expected in 2023. The difference per year between what Ausgrid wanted going forward (green line) and what the AER allowed (purple line). We are responsible for reading your meter and sending the data to your electricity retailer. The Ausgrid network covers over 22,000 square kilometres, spanning from Sydney to the Great Dividing Range. We acknowledge community concerns that can be created by this uncertainty and therefore want to make a decision as quickly as possible while ensuring that there is still adequate time for communities and other stakeholders to provide input. According to the Ausgrid website, over four million Aussies rely on their energy from this network. Ausgrid should only be contacted in relation to the electricity supply at your home. This differs from the enterprise value of more than $20 billion for the . Feedback was received during the PADR Submission process suggesting alternative connection points for the Victorian end of VNI West. %PDF-1.5 Hong Kongs Cheung Kong Infrastructure (CKI) and State Grid of China [SGC] already own considerable utility infrastructure in Australia, and CKI in particular has an excellent reputation as an operator. In essence we think that offshore buyers may pay significantly less tax than Australian buyers. Accumulation meters can be electronic or electro-mechanical. 255 (H) x 170 (W) x 63 (D) OR 273 (H) x 170 (W) x 63 (D) with an optional external hook. These leases resulted in some additional obligations for the three operators, including the following: - The Code of Practice for Authorised Network Operators, which relates to environmental impact assessments and compliance, is required as a licence condition. A transmission line transmits electricity across vast distances. The difference in revenue between TransGrid's revised proposal and our final decision is mostly driven by our forecast of capital expenditure (capex). Important environmental, social, and cultural matters will be assessed in detail and addressed through the subsequent state and federal government environmental and planning assessments and approvals processes to minimise impacts. The cost of undergrounding is generally much greater compared to overhead lines and would add significantly to a construction timeline. Canstar Blue's website terms and conditions apply. Ausgrid's real revenues increased 150% between 2005 and 2012 and increased 66% between 2010 and 2013. A decision on the connection location will be made at the time the RIT-T process is concluded, early 2023. The difference per year between what Ausgrid wanted going forward (green line) and what the . difference to bushfire risk between overground and underground transmission lines and no significant difference to operational costs. The matters that can and cannot be considered are set out in RIT-T application guidelines developed by the Australian Energy Regulator (AER). Any decision to include undergrounding would require consideration of all technical, environmental, social and cultural constraints, together with stakeholder and community feedback. To us the AER is saying the Tribunal complained about using econometric data just because it was econometric data, and the Tribunal wants the AER to use bottom up Ausgrid costs but is not entitled to so order and in any event didnt provide enough guidance to enable that to be done. % Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Integrating sustainability principles across our operations helps to protect our communities. Residents on the Ausgrid energy network should generally be able to choose their own electricity provider. We have provided links to each network operators licence (and any subsequent variations) below. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Transgrid and AVP recently held online information sessions on 10 August 2022 and 25 August 2022 to provide an overview of the VNI West PADR. AusNet has prioritised reaching out to landholders between Mount Prospect and Bulgana, who may potentially host the WRL infrastructure, and those surrounding landholders who may potentially be impacted by any changes. For another comparison we can look at what was paid for Transgrid as recently as last year. As always, check all details of any plan directly with the retailer before making a purchase decision. Ausgrid has received numerous complaints and requests for better stakeholder management and consultation of the local community. Central West Orana REZ Mt Piper to Wallerawang Transmission Network Project. Once you are connected, all that is left to do is choose an electricity provider. 4 0 obj This includes opportunities for earlier and deeper engagement with local communities to help better manage impacts and to make the most of regional development opportunities for host communities. Promoting diversity and inclusion is a key component of our sponsorship program. The project is also expected to support regional employment and economic growth in some capacity across the LGAs where the project is sited. On Thursday, the Australian Government, announced that neither State Grid of China nor Cheung Kong Infrastructure would be allowed to bid for the 50.4 per cent of Ausgrid that the State Govt of NSW is selling unless they could address certain concerns. A December 2022 project update provides a summary regarding the PADR submission and assessment of feedback. While the assessment involves evaluating the technical and economic feasibility of a new transmission line, environmental, social and cultural matters may also be considered to the extent that they are relevant to this analysis.
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